In this conversation, moderated by Pilita Clark, Associate Editor at the Financial Times, the heads of the IMF and World Bank set out the agenda going into COP28.
Mitigating climate change requires rapid cuts in global emissions in this decade. Despite some progress since 2015, there remain substantial gaps in ambition and implementation. Based on the latest stock-taking report by IMF staff, a high-level panel will discuss the size of ambition and implementation gaps and how to close them equitably while scaling up global flows of finance and technology.
PANELISTS:
Reaching net-zero emissions will require more innovation and more rapid diffusion of existing technology. But green innovation has slowed since the mid-2010s and there is limited diffusion of new technologies from advanced to lower-income countries. In this event, high-level panelists will explore how to accelerate technological innovation and its diffusion across countries to help decarbonize the global economy.
PANELISTS:
Climate financing needs are large, especially in vulnerable emerging and developing economies. The IMF is innovating to help countries meet the challenge: through a recently created instrument, the Resilience and Sustainability Trust, it provides financing to countries facing long-term structural challenges, including climate change. In this session, panelists will discuss how the instrument can help countries advance their climate change objectives and catalyze additional climate financing.
PANELISTS:
Credible and comparable data is critical to better understand the economic and financial implications of climate change and implement policies that can bring the world to net-zero. But climate change data is uneven across countries, so there is an urgent need to address these data gaps and integrate high-quality data into decision-making. In this joint session with the World Bank, panelists will assess the types of data that policymakers need to understand the economic and financial risks associated with climate change, develop sound policies, and finance the transition.
PANELISTS:
Disruptions in global energy markets amid Russia’s war in Ukraine have exposed the vulnerabilities of fossil-fuel reliance and rekindled national energy security concerns. At the same time, rising geo-economic fragmentation could jeopardize the supply of minerals that are critical for the green transition. This event will explore how countries can strike a balance between promoting short-term energy security while remaining on track to meet the goals of the Paris Agreement.
PANELISTS:
Investing in climate change resilience requires large scale financing. The potential for corruption to exacerbate the challenge, undermine the effectiveness of the response and increase costs means that better governance must be at the heart of the climate response. Acting fast will mean leveraging the existing anticorruption architecture and catalyzing coalitions in a highly coordinated way. In this joint event with the World Bank, panelists will discuss corruption vulnerabilities that are specific to the green transition and how to address them.
PANELISTS:
The global energy transition poses macroeconomic challenges for fossil fuel exporting countries, including more uncertain hydrocarbon revenues, exports and investment inflows. How will these countries be impacted in the next decade and what policies can they adopt to harness opportunities in the transition to a lower carbon economy and mitigate possible macroeconomic disruptions? Panelists will share views on the scale of the challenge, as well as fiscal policy and diversification priorities to respond in a timely and coordinated way.
PANELISTS:
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